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Cashless America with CBDCs

“Prices are skyrocketing!”  “Buy it today because tomorrow it will cost more.”  “Gas prices are outrageous. How can we afford this?”

Sound familiar? According to a report in Epoch Times, Inflation is forcing American households to spend $709 more per month than two years ago. Over the last 100 years, the dollar has lost 95% of its value.

Banks have been failing – so much worse than in 2008.  Three banks failing in 2023 (Silicon Valley Bank, Signature Bank, First Republic Bank) with assets totaling $532 billion was more than the total of the 25 banks that failed in 2008.

National Debt is a significant factor causing inflation. In 1971, President Nixon took us off the gold standard. Since then, the Federal Reserve has been printing fiat money – paper money with no backing. Fiat money allows the Fed to keep printing money, which devalues the dollar and increases the national debt. In 1970, the national debt was $372 million. In 2023, it is $31 trillion.

The United States has long enjoyed being the global economic superpower with its currency, the US Dollar, as the world’s primary reserve. This has given the US a great advantage. Because US inflation devalues the dollar, other nations are working to challenge that supremacy. Leaders among this challenge are Brazil, Russia, India, China, and South Africa (BRICS). About 19 other nations are attempting to join this group. All of this will further deteriorate the dollar.

What CBDC is:  Here is a definition from the Cato Institute: “A CBDC is a digital national currency. In the case of the United States, a CBDC would be a digital form of the US dollar. Like paper dollars, a CBDC would be a liability of the Federal Reserve. But unlike paper dollars, a CBDC would offer neither the privacy protections nor the finality that cash provides.”  For a complete discussion of the CBDC, please read the entire article from Cato.

Americans are already well integrated into a cashless system with credit and debit cards. Cash and Card purchasing data for 2021 shows that 29% of payments were made with debit cards, 28% with credit cards, and cash payments were only 20%. Other methods include ACH – 11%, mobile payments 3%, and the remaining 9% using different ways. 41% of Americans didn’t use cash in their purchases in 2022.

Risks of CBDCs:  Here are just a few risks discovered by the Cato Institute:   It doesn’t offer privacy protections or the finality of cash transactions. It creates a direct digital liability between citizens and the central bank. It could spell doom for what little financial privacy protections remain.   The central bank, the Federal Reserve, would have absolute control over our use of money and the technology to enforce the rules. It could be the largest single assault on financial privacy since the Bank Secrecy Act in 1970. Connected to the threat to privacy is the horrifying menace to freedom. It would give the government so much access to data about citizens that there would be countless opportunities to control citizen’s financial activity.

The potential timeline for changing to CBDCs is hard to pin down. Palm Group Research has stated: Government to Announce National Recall on the US Dollar” Starting as soon as September 20. Others predict extended periods, perhaps even several years, before implementation in the US. But it is wise for Christians to be aware of this and prepare.

The frightful part of this for Christians is to see how this prepares the world for the antichrist, the mark of the beast, and the number 666. The technology is in place now to quickly implement this program of the beast. Revelation 13:16: “And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.”

Although I believe Christians will be raptured (caught up) out of this world before the tribulation, we are certainly seeing forerunners of the one-world government and the absolute despotic control that will take place at that time.

But for Christians now, we should heed some Biblical principles about finance.

Know your financial situation:

Here’s a rural cultural warning that applies to our finances with or without a farming career. Proverbs 27:23 “Be thou diligent to know the state of thy flocks, and look well to thy herds.”

Prepare:  Don’t be a sluggard. Be diligent

  • Proverbs 6:6-8 Go to the ant, thou sluggard; consider her ways, and be wise: Which having no guide, overseer, or ruler, provideth her meat in the summer, and gathereth her food in the harvest
  • Proverbs 20:4: The sluggard will not plow by reason of the cold; therefore shall he beg in harvest, and have nothing.
  • Proverbs 24:27 Prepare thy work without, and make it fit for thyself in the field, and afterwards build thine house.

Forsee the evil coming, plan and prepare

  • Proverbs 22:3 A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.

Demonstrate character in your life.

  • Romans 12:11 Not slothful in business; fervent in spirit; serving the Lord;
  • 1 Thessalonians 4:11-12: And that ye study to be quiet, and to do your own business, and to work with your own hands, as we commanded you; That ye may walk honestly toward them that are without, and that ye may have lack of nothing.

I wrote this article to inform you of this situation – if you didn’t already know. I am not proposing a remedy. Everyone will have to determine that for himself. Possible solutions include alternate investments in gold, silver, and bitcoin. May God direct your decisions.

About Dale B

I am a born-again Christian who loves to write and share the Good News about Jesus. Raised on a small Wisconsin farm and saved at age 12, I have been active in Christian service since that time. My many years as a pastor, accountant, and lay worker in the church have equipped me to help those in need. In retirement now in Texas, the Lord has led me to writing as a means of winning people to Christ and helping Christians grow in the Lord. By God’s grace I hope to be a blessing and encouragement to you.

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4 comments

  1. Dale,

    Thank you so much for this highly informative article. I got a much better understanding about a CBDC scenario, it was thorough and outlined in a format that made it easy to comprehend.

    The one world system seems to be rearing its ugliness and slowly making its way in, like the leaven (Sin) eating its way through the bread. All great info to have on hand. You did an excellent job with the segue culminating into the scriptures and overall message.

    Nicely done! Thank you, Dale.

    God Bless you~

  2. Thank you for sharing this information , Dale. I am not one for knowing the history behind decisions that played out with the exception of the gold standard being removed. The conditions that are coming together aren’t something I understand when it comes to the areas about investing/ exchanging money.for other forms of currency.

    Grateful that you are advising the public to help us to be better informed of what is going on in the financial world.

    The very subject that is important to our world pertains to money which is the object of the affection for many any is the cause of the root of all evil in their hearts. (I Timothy 6:10)
    Indeed people need to be wise and that comes from adherence to God’s word. Trust Him not riches.

    Knowing that living in this time whereby we are seeing evidence of the Lord’s return for His children; situations are coming together according to the Bible declaring the circumstances about which we are experiencing. Our eyes need to be focused on Him and trusting that He will see us through these hardships.

    Personally I am excited because of my expectation of His return. Seeing things playing out seems to help my disappointments and we know that God is faithful no matter the limited resources we may face.
    It is temporary but we are eternal so we must keep your eyes upon Him. He can provide for us like He did when Israel was in the desert. Nothing is too big for Him.!

  3. This is also going to involve a “social credit score.” If the established powers don’t like your political, religious, societal, or environmental views they can restrict what you buy, Yes, everything is falling into place leading to the mark of the beast, and people are being programmed to accept it in the name of convenience. Taco Bell and KFC have announced that in the near future they will both be going cashless. I think it is called “Amazon One” that has already developed the technology for paying for things using the right hand, and some stores and some businesses have already implemented it. We are living at the end of the Church Age of Grace, very close to the rapture of the Church and the Tribulation Period. We are the generation that is seeing all the End Time prophecies converging for the first time in history! Unfortunately,, the average pastor is not even talking about this, and the majority of Christians don’t have a clue about what is happening.

  4. There are now 100 nations considering going to CBDC.

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